The Indiana Gaming Commission recently unanimously approved Caesars Entertainment Corporation’s request to move Horseshoe Southern Indiana’s riverboat operations onto a new $85 million land-based facility. IGC Chairman Michael McMains said, “It seems like a terrific improvement and expansion of the facility, and I think it will be a real benefit for gaming, and that part of Indiana.” Construction is scheduled to begin in early summer and be completed in the second half of 2019, officials said.
The Indiana legislature in 2015 approved allowing riverboat casinos to move ashore as long as they stay within their existing footprint.
The new 100,000 square foot casino will be a single floor offering dining, an entertainment venue and retail outlets. It will be connected to the existing pavilion, which currently houses restaurants and retail. Caesars Senior Vice President and General Manager Brad Seigel said, “By moving the casino operations to a new building, we are able to give guests a fresh, new modern casino and an enhanced experience. Integrating the food, entertainment and gaming outlets in one area builds upon the high quality experience that guests expect from our property.”
Seigel added the casino will have a “modern feel” with outdoor balconies and windows designed to let in natural light. The project also will include renovations to Horseshoe’s existing meeting and convention space.
Caesars nearly abandoned the project earlier in the year when the IGC said a $50 million license transfer fee was required, related to Caesars’ $1.7 billion acquisition of Centaur Gaming LLC, including two Indiana casinos, late last year. Caesars and Centaur claim the fee does not apply to their transaction because the original owner of the gaming properties is not involved. The fee issue will be addressed at a June IGC meeting.
McMains said Caesars was a “very good” operator with facilities across the country. Siegel stated he was proud of Horseshoe’s 20-year history of operating in Indiana, as well as the millions of dollars and “hours of contribution” made to the communities where the company operates. “This project further demonstrates our continued enthusiasm for and commitment to the state. We appreciate the commission’s decision today and look forward to continuing our positive working relationships at the state and local level.”
